Alliance & Leicester has announced the launch of new versions of its popular Online Saver savings account and its Direct ISA account.
The second issue of the Online Saver savings account offers a savings rate of 4.50 per cent gross a year on a minimum balance of £1 and a maximum of £25,000.
The savings account holder has constant access to the savings account through online banking.
The Direct ISA's second issue offers savers a savings rate of 4.75 per cent gross a year. The minimum balance is also £1 but subscription in a tax year is limited to £3,000, and transfers from existing ISA balances are accepted.
Deposits or withdrawals can be made to or from linked current accounts through online banking, giving the savings account holder immediate access to the savings account.
According to Alliance & Leicester's senior marketing manager for savings, Mike Woodward, these two products have proved to be extremely popular. He attributed the success to good savings interest rates and the convenience of access through online banking.
"The rates on these new products remain competitive in the current market, and we expect them to be very successful. Our savings range continues to offer good value to our customers," Mr Woodward said.
Alliance & Leicester is one of the UK's major financial services groups. It offers a broad range of financial services to personal and commercial customers.
Alliance & Leicester is the UK's seventh largest bank, with around 5.5 million customers.
Alliance & Leicester offers new savings account and ISA
Alliance & Leicester offers new savings account and ISA
Tue, 12 Jul 2005
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